Actuarial InternshipsActuarial Internships

Betsy DePaolo, FCAS, MAAABetsy DePaolo, FCAS, MAAAVice-President & ActuaryVice-President & Actuary

Travelers Property CasualtyTravelers Property Casualty

Actuarial Internship Elements

Recruiting

Benefits of Internship Program

Actuarial Internship ElementsActuarial Internship Elements

WorkExperience

Networking Mentoring

Development Curriculum

Actuarial Internship ElementsActuarial Internship Elements

12 Week Summer Program

11 participants in 2002

6 Seniors (class of 2003)

4 Juniors

1 Sophomore

Coordinated as part of Company-wide Leadership Development Internship Program (95 total interns)

Work ExperienceWork Experience

Real actuarial projects - not just copying/filing/data input

Study of Homeowners Brush Fire exposure in

Southern California

Study of Personal Auto Deductible Credit Factors

Construction Market ELPF review

Small Market Construction Defect analysis

Personal and Commercial Rate Filings

Development CurriculumDevelopment Curriculum

Weekly presentations by senior members of actuarial and finance communities:

Introduction to Travelers

What is “IT”

Understanding Insurance Products

Claim Department

Reinsurance

Personal Lines

Commercial Lines

NetworkingNetworking

Senior Management Exposure

Individual meetings set up by intern coordinator

Development Curriculum

Social Events

“Actuaries don’t work in a vacuum” - desire to integrate with other disciplines as early as possible

Social EventsSocial Events

Welcome Pizza Luncheon

Welcome Reception (with Sr. Mgmt)

Intern Picnic

Riverboat Cruise

Volleyball

Whirlyball

Six Flags

City-wide Scavenger Hunt

MentoringMentoring

Each participant is assigned a mentor

Mentors are typically actuarial students with 2-3 years experience

Mentors are called upon for all types of questions

Career Advice

Exam Preparation

Where’s the closest mall?

Recruiting for InternsRecruiting for Interns

How do student hear about Travelers?

Career Fairs

Information Sessions

Website

Recruiting for InternsRecruiting for Interns

Travelers “Key” Schools

Bryant College Cornell University

Howard University Lafayette College

Notre Dame Penn State

SUNY Stony Brook SUNY Geneseo

Temple University Univ. of Connecticut

Univ. of Massachusetts

Recruiting for InternsRecruiting for Interns

Interviews

On Campus during full-time recruitment

On-site for local candidates

Phone interviews

What does an intern gain from the What does an intern gain from the experience?experience?

Build a Foundation

Introduction to:

Company

Corporate Culture

Actuarial Profession

City of Hartford

Build a Foundation

Business Experience

Actuarial Experience

Exam Support

Workshops:

Presentation Skills Dress for Success

Resume Writing Business Etiquette

Interviewing Techniques

What does an intern gain from the What does an intern gain from the experience?experience?

What does the company gain from the What does the company gain from the experience?experience?

Investment in the Future

12 Week Interview

Assess Analytical Skills

Expand Computer Skills (Excel, Access, etc)

Ability to work with others

Communication Skills

What does the company gain from the What does the company gain from the experience?experience?

Investment in the Future

Real Actuarial Work Completed

Management Training for Actuarial Students

Committed Future Employees

Final ThoughtsFinal Thoughts

Commitment to Program

Expect Ups and Downs

Don’t Expect to Hire Every Intern

Make Interns a Part of the Community

Remember the Benefits